Peru has 47 mining projects that could commit an investment of US$53.715 million and boost the economy and employment in 18 regions. This is what the presentation of the “Mining Investment Project Portfolio 2023″ by the Ministry of Energy and Mines (Minem) revealed.
The ministry informed that the current document is the updated edition of the previous Portfolio of Mine Construction Projects 2021.
This new edition has been renamed as Portfolio of Mining Investment Projects because it is aligned with the different types of projects that it brings together, as well as with the objectives of the publication,” the Minem said in a statement.
In this line, the General Directorate of Mining Promotion and Sustainability (DGPSM) of MINEM, responsible for the document, highlights that the current portfolio registers an increase in mining investment of 1.0% in contrast to the previous edition.
Thus, the new portfolio records the start of operations of a project (US$5.300 million), another 3 projects left the portfolio (US$1.233 million), 8 projects were incorporated into the current portfolio (US$5.989 million), 8 projects modified their investment amounts (US$10,341 million) and 31 projects maintain their investment amount (US$37,385 million), which represents 69.6% of the global participation of the portfolio.
METALS AND PROJECTS
Regarding the type of mineral to be extracted, the portfolio indicates that there are 27 copper projects (US$ 38,521 million) that represent 71.7% of the total investment; 6 gold (US$6,993 million), 3 iron (US$5,384 million), 10 projects are zinc and silver (US$2,368 million) and one is phosphate (US$450 million).
For this year, the portfolio forecasts the start of construction of the projects Magistral, Corani, Romina and Antamina Replacementthe last two are incorporated into the portfolio for the first time, with a joint investment of US$ 2,947 million, which represents 5.5% of the total investment.
Meanwhile, by 2024, construction of Yanacocha Sulfuros (US$ 2.5 billion) would begin in Cajamarca and Zafranal (US$1,473 million) in Arequipa, with a joint investment of US$3,973 million. Therefore, the projects with start of construction projected for this year and 2024, contemplate a joint investment of US$ 6,920 million.
The portfolio also indicates that 37 projects have not yet defined a construction start date because they are at an early stage. This group presents a joint investment of US$ 44,709 million, which represents 83.2% of the global investment.
